Insider Selling: Unity Software Inc. (NYSE:U) Director Sells 50,000 Shares of Stock

Unity Software Inc. (NYSE:U - Get Free Report) Director Shlomo Dovrat sold 50,000 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the transaction, the director owned 189,089 shares of the company's stock, valued at $5,674,560.89. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Unity Software Stock Performance

Shares of NYSE:U traded up $0.37 on Monday, hitting $29.30. 9,654,267 shares of the company were exchanged, compared to its average volume of 11,733,995. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74. The company's 50 day moving average price is $24.10 and its two-hundred day moving average price is $22.58. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of -26.16 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.19. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. Unity Software's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. Research analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on U shares. Jefferies Financial Group upgraded shares of Unity Software from a "hold" rating to a "buy" rating and boosted their price target for the stock from $22.00 to $29.00 in a research report on Friday, May 30th. Wells Fargo & Company boosted their target price on shares of Unity Software from $19.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Bank of America began coverage on shares of Unity Software in a report on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price for the company. Morgan Stanley dropped their price target on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC reduced their price objective on Unity Software from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.80.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in U. Farther Finance Advisors LLC increased its holdings in Unity Software by 4.4% in the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company's stock valued at $261,000 after purchasing an additional 454 shares during the last quarter. Amalgamated Bank increased its stake in shares of Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after acquiring an additional 525 shares during the last quarter. Bouvel Investment Partners LLC raised its position in shares of Unity Software by 1.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock valued at $697,000 after acquiring an additional 580 shares during the period. Signaturefd LLC boosted its stake in Unity Software by 26.3% during the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company's stock worth $72,000 after acquiring an additional 762 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Unity Software by 0.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company's stock worth $3,182,000 after acquiring an additional 973 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.